Allotment of 13,05,400 equity shares to public category/non promoters by way of preferential issue on private placement basis
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Vipul Organics has allotted 13,05,400 equity shares to 9 non-promoter allottees at Rs. 211 per share (face value Rs. 10), raising approximately Rs. 27.54 crores. The original proposal was for up to 16,70,000 shares, but the final allotment was lower because some proposed allottees did not participate. Allottees include individuals such as Jagdish N Master (4,75,000 shares), Mehul Madhusudan Shah (3,00,000 shares), Niti Mehul Shah (2,00,000 shares), and JVS Holdings LLP (2,40,000 shares), among others. Post-allotment, the company's paid-up equity capital has increased to Rs. 19.05 crores, comprising 1.90 crore equity shares of Rs. 10 each. The new shares will rank equally with existing shares.
The allotment increases the share count by roughly 6.85%, leading to proportional dilution for existing shareholders. However, the steep issue price (a Rs. 201 premium over face value) indicates the company secured investor interest at a valuation well above par, which can be viewed as a confidence signal in the business.